Trump Threatens Mexico, EU with 30% Tariff As Negotiations On Trade Deal Fail

<p>US President Donald Trump on Saturday threatened Mexico and the European Union with a 30 per cent tariff on imports on August 1. The threat comes after weeks of negotiations with the major US trading partners failed to reach a conclusion.&nbsp;</p>
<p>Trump announced the latest tariff in separate letters to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum.&nbsp;</p>
<p>The Mexican President said she was sure an agreement could be reached. “I’ve always said that in these cases, what you have to do is keep a cool head to face any problem,” she said during an event, reported Reuters.&nbsp;</p>
<p>She also stressed that the country can work with the US government and ” we’re clear on what we can’t.” “And there’s something that’s never negotiable: the sovereignty of our country,” Sheinbaum added.&nbsp;</p>
<p>This week, Trump sent a similar letter to 23 other trading partners, including Canada, Japan, and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent as well as a 50 per cent tariff on copper.&nbsp;</p>
<p>Trump said the 30 per cent rate was “separate from all sectoral tariffs”, indicating 50 per cent levies on steel and aluminium imports and a 25 per cent tariff on auto imports would remain.&nbsp;</p>
<p>The targeted countries have until August 1 to negotiate agreements that could lower the threatened tariffs.&nbsp;</p>